In a word, no!! You will have to use a formula like Todd's or some tricks. If the column to the right is not blank, Insert a column to the right (For good measure, insert 3 or 4 columns). Next select your column and choose Data>Text to columns. Use a space as the delimiter. This will plae the First Name in 1 column and the Last Name in another column. Now Concatanate the 2 cells.
Select these cells and Copy>Paste Special>Values